According to a new market research study titled ‘Embolization Coils Market to 2025 – Global Analysis and Forecasts by Type, Material, Application and End User. The global embolization coils market is expected to reach US$ 1,131.24 Mn in 2025 from US$ 784.60 Mn in 2017. The market is estimated to grow with a CAGR of 4.8% from 2018-2025. The report highlights the trends prevalent in the global embolization coils market and the factors driving the market along with those that act as deterrents to its growth.
Global embolization coils market, based on type was segmented as, detachable embolization coils and pushable coils. In 2017, the detachable embolization held the largest share of the market, by type. Additionally, the segment is also expected to grow at the fastest CAGR during the forecast period owing to better benefits offered as compared to the pushable embolization coils, also the market players operating in the market are offering maximum of the detachable embolization coils.
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The market for embolization coils is expected to grow due to increase in the demand for minimally invasive procedures, rise in the prevalence of the cardiac aneurysm and progressive aging population & rise in associated chronic diseases. In addition, growth opportunities due to the interventional radiology and development in the healthcare market are likely to contribute in the growth of the embolization market in the forecast period.
The major players operating in the embolization coils market include, Terumo Corporation, Medtronic, Boston Scientific Corporation, Stryker, DePuy Synthes, Cook, Endoshape, Inc, Balth USA LLC, Penumbra, Inc, and Three Rivers Medical, Inc., among others. The market is has provided organic growth strategies to these companies by giving several product approvals. For instance, during February, 2018, Three Rivers Medical, Inc. received CE Mark (Conformité Européenne) for its Rio Embolization Coil System and has successfully treated its first ten patients.
Approvals and agreements were observed as the most adopted strategy in global embolization coils industry. Few of the recent product launch and collaboration are listed below:
2018: In March, 2018, BALT USA, LLC announced it has received 510(k) clearance for the Optima Coil System and completion of first clinical cases in the United States.
2017: In September, 2017, Medtronic has expanding its embolisation product portfolio with the launch of the Concerto 3D detachable coil system. The system was launched at the Cardiovascular and Interventional Radiological Society of Europe annual meeting
2015: In December 2015, Codman Neuro*, part of DePuy Synthes Companies of Johnson & Johnson, has introduced a new platform of embolic coils for the treatment of brain aneurysms, supported by an enhanced detachment system designed to improve microcatheter stability and provide an optimized detachment zone for coils.
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This post was originally published on The Picayune Current